Cerity Partners LLC Decreases Stock Position in Comstock Resources, Inc. (NYSE:CRK)

Cerity Partners LLC cut its stake in shares of Comstock Resources, Inc. (NYSE:CRK) by 46.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,714 shares of the oil and gas producer’s stock after selling 15,077 shares during the quarter. Cerity Partners LLC’s holdings in Comstock Resources were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Comstock Resources during the fourth quarter valued at approximately $11,891,000. Edgestream Partners L.P. bought a new stake in Comstock Resources during the 4th quarter valued at $4,430,000. Vanguard Group Inc. boosted its position in Comstock Resources by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 9,222,982 shares of the oil and gas producer’s stock valued at $168,043,000 after buying an additional 126,380 shares during the period. Barclays PLC grew its holdings in Comstock Resources by 256.3% in the 3rd quarter. Barclays PLC now owns 155,614 shares of the oil and gas producer’s stock worth $1,731,000 after acquiring an additional 111,934 shares during the last quarter. Finally, Disciplined Investors L.L.C. purchased a new position in shares of Comstock Resources in the fourth quarter valued at about $2,028,000. 36.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRK has been the subject of a number of analyst reports. Williams Trading set a $13.00 target price on shares of Comstock Resources in a report on Wednesday, March 5th. Morgan Stanley reissued a “cautious” rating and set a $22.00 target price (up from $21.00) on shares of Comstock Resources in a research note on Wednesday, March 26th. UBS Group assumed coverage on shares of Comstock Resources in a report on Tuesday. They issued a “neutral” rating and a $19.00 price target on the stock. Truist Financial upped their price objective on shares of Comstock Resources from $11.00 to $19.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Finally, Piper Sandler lifted their target price on shares of Comstock Resources from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, January 29th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $14.23.

Comstock Resources Stock Up 1.5 %

CRK stock opened at $18.50 on Thursday. The business has a 50 day moving average of $19.00 and a 200 day moving average of $16.97. The firm has a market cap of $5.42 billion, a PE ratio of -24.34, a price-to-earnings-growth ratio of 1.65 and a beta of 0.42. Comstock Resources, Inc. has a twelve month low of $7.74 and a twelve month high of $22.06. The company has a quick ratio of 0.60, a current ratio of 0.46 and a debt-to-equity ratio of 1.27.

Comstock Resources (NYSE:CRK) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.14. The firm had revenue of $366.51 million during the quarter, compared to the consensus estimate of $370.62 million. Comstock Resources had a negative return on equity of 3.10% and a negative net margin of 18.32%. On average, research analysts forecast that Comstock Resources, Inc. will post 0.54 EPS for the current fiscal year.

Comstock Resources Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.